
doi: 10.2307/1913291
The notion of homotheticity is extended for production correspondences to span many special structures, with properties such as homogeneity, global homotheticity, semihomogeneity, quasi-homogeneity, with a scaling law common to these structures which is also equivalent to linear expansion paths, thereby showing by comparison the generality of the latter. In these terms one may consider output-mix-dependent factor price deflation of cost and input-mix-dependent output price deflation of revenue.
Production theory, theory of the firm, Ray-Homothetic Production Functions
Production theory, theory of the firm, Ray-Homothetic Production Functions
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